Skip to content
AnalystLens

Kraft Heinz 8-K Report, Financial Results (Feb 11, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 11, 2026
Period End
February 11, 2026
Security
KHC
In the record · 2016–202610-K1110-Q348-K161

KHC filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 161 current reports (8-K) between 2016 and 2026.

  1. Impairment8-K · Feb ’19Feb ’19
  2. Leadership change8-K · Oct ’20Oct ’20
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Material agreement8-K · Feb ’25Feb ’25

01—Abstract

Summary

Summary of the 8-K filed February 11, 2026. Cited figures are marked; the original filing is the authoritative source.

The Kraft Heinz Company reported fourth quarter and full year 2025 results on February 11, 2026, and introduced its 2026 operating plan.

For full year 2025, net sales decreased 3.5% to $24.94 billiona (Organic Net Sales down 3.4%). Gross profit margin fell 140 basis points to 33.3%, and the company reported an operating loss of $4.7 billion, driven by non-cash impairment losses of $9.3 billion. Adjusted Operating Income decreased 11.5% to $4.7 billion, with inflationary commodity and manufacturing costs, unfavorable volume/mix, higher advertising and R&D spending, and unfavorable foreign currency more than offsetting higher pricing.

Diluted EPS was $(4.93) for the year, while Adjusted EPS was $2.60b, down 15.0%. Net cash provided by operating activities was $4.5 billion and Free Cash Flow was $3.7 billion, up 15.9%. The company returned $2.3 billion to stockholders in 2025, paying $1.9 billion in dividends and repurchasing $436 million of common stock.

For the fourth quarter, net sales decreased 3.4% to $6.35 billionc and Diluted EPS was $0.55, down 68.8%, which the filing attributes mainly to a prior-year non-U.S. deferred tax asset recognition. Adjusted EPS was $0.67, down 20.2%. Management announced a $600 million investment across marketing, sales, R&D, product superiority and select pricing to return the business to profitable growth, and paused work related to the separation into two independent public companies, stating it will no longer incur related dis-synergies this year.

For fiscal 2026, the company guides Organic Net Sales down 1.5% to down 3.5%, Constant Currency Adjusted Operating Income down 14% to down 18%, Adjusted EPS of $1.98 to $2.10d, and Free Cash Flow Conversion of approximately 100%. The company reported Net Leverage of 3.0 and total debt-related balances of $1.9 billion current and $19.3 billion long-term at year end.

02—Key points

Key Highlights

  1. Full-year 2025 net sales of $24.94 billion, down 3.5%; Organic Net Sales down 3.4%, with volume/mix down 4.1 percentage points partly offset by price up 0.7 percentage points.
  2. Full-year operating loss of $4.67 billion, driven by $9.31 billion of impairment losses, including $6.73 billion of goodwill impairment and $2.57 billion of intangible asset impairment.
  3. Adjusted Operating Income of $4.75 billion, down 11.5%; Adjusted Gross Profit Margin of 33.5%, down 120 basis points.
  4. Full-year Adjusted EPS of $2.60, down 15.0%; Diluted EPS was $(4.93).
  5. Free Cash Flow of $3.66 billion, up 15.9%, with a 119% Free Cash Flow Conversion as stated in the filing; operating cash flow of $4.46 billion.
  6. $600 million investment announced across Marketing, Sales, R&D, product superiority and select pricing, and work related to the separation paused.
  7. 2026 outlook: Adjusted EPS of $1.98 to $2.10, Constant Currency Adjusted Operating Income down 14% to 18%, and Free Cash Flow Conversion of approximately 100%.

03—Questions

Frequently Asked Questions

  1. Why did Kraft Heinz report a large operating loss for 2025?

    The operating loss of $4.7 billion was primarily due to non-cash impairment losses of $9.3 billion, which were $5.6 billion higher than the prior year. Excluding these impairments, the filing's Adjusted Operating Income was $4.7 billion.

  2. What is the company doing with the planned separation into two companies?

    The company paused work related to the separation to focus resources on executing its operating plan and returning the business to profitable growth. It stated it will no longer incur related dis-synergies this year.

  3. What is the $600 million investment for?

    The investment is across Marketing, Sales, and R&D, as well as product superiority and select pricing. Management said it aims to accelerate momentum in its Taste Elevation portfolio and drive recovery in the U.S. business.

  4. How did the company perform on cash flow and shareholder returns in 2025?

    Net cash provided by operating activities was $4.5 billion, up 6.6%, and Free Cash Flow was $3.7 billion, up 15.9%. The company paid $1.9 billion in cash dividends and repurchased $436 million of common stock, and it has approximately $1.5 billion remaining under its publicly announced repurchase authorization.

  5. What does the company expect for 2026?

    For fiscal 2026, the company expects Organic Net Sales down 1.5% to 3.5%, including an approximate 100 basis point impact from incremental SNAP headwinds, and Adjusted EPS of $1.98 to $2.10. It also expects interest expense of approximately $940 million and an effective tax rate on Adjusted EPS of approximately 25.5%.

04—Continue

← View all 8-K filings